Santa Lucia’s Businesses Embed Bitcoin as Payment Method
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A small tourist town in Honduras is trying to boost tourism by using Bitcoin payments.
Santa Lucia, a small island in the Caribbean Sea, also known by the name of a popular Neapolitan song, is introduced Bitcoin payments.
On July 28, the city launched the “Bitcoin Valley” initiative, which The goal is to boost tourism and enable payment with Bitcoin in 60 local businesses. The tourist is not obliged to pay Bitcointhey can also use US dollars and Honduran Lempiras to pay for their treats.
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By report in the local news agency La Prensa, business owners expect this initiative to significantly help expand store opportunities. In addition, Cesar Andino, the owner of the Los Robles shopping center, hopes that this initiative will attract people who want to use this cryptocurrency.
Accepting Bitcoin allows us to open new markets and win more customers. We have to globalize. We can’t shut ourselves off from technology, and we can’t fall behind when other countries are already doing it.”
The initiative was created by the government of Santa Lucia, the Coincaex crypto exchange, Blockchain Honduras and the Technical University of Honduras.
Uutislehti has also dealt with trading activity. According to La Prensa Once the transaction is registered, it is sent to the Coincaex crypto exchange. In exchange, the value of Bitcoin will be immediately matched to Lempira and converted to this currency. Therefore, store owners receive customer payments in Lempira instead of Bitcoin.
Adapting Bitcoin as a payment method is not the first time that Honduras has incorporated crypto into its operations. In April 2022, the Honduran economic zone recognized this cryptocurrency as legal tender. This decision allows people to pay taxes in Bitcoin and issue its bonds.
A similar initiative has been taken on the other side of the Atlantic Ocean in Gibraltar. On July 27th local shops started letting people pay for their goods in Bitcoin.